Grains Sharply Divided in the Overnight
Oil Prices Slipped on Monday
Grains were sharply divided overnight with wheat seeing big losses while soybeans rallied as much as 7 cents before backing off into the break. Corn was weaker as well in the night trade.
Weekly Cash Comments
Weekly Cash Commentary for week ending 4/08/2016
Grain basis was slightly firmer on the week, but still showing no real movement to the upside. For the week, US average corn basis was up 0.5 cents a bushel, and soybeans up only 0.25 cents a bushel.
Crude Races Higher in the Overnight
Grains Find Modest Strength in the Overnight
Grains found some modest strength overnight with wheat leading the advances after the sharp sell-off in the past week. In outside markets, crude oil raced higher overnight nearly posting a $2 a barrel advance while US stock futures were higher as well.
Why Beans May Be Heading for the $9 Support Level
Crude Oil Gives up Yesterday’s Gains in the Overnight
Yesterday, Monsanto CEO Hugh Grant said his company seed sales suggest a corn acreage number lower than USDA’s forecast
Grains were lower overnight while in outside markets stock indices and crude oil gave up some of yesterday’s sharp gains.
Crude Stocks Showing More Bullish Signs
Grains Head Lower in the Overnight Session
In outside markets, crude oil was higher as were stock index futures
Grains headed lower in the overnight session with wheat leading the complex to lower on improved crop ratings. In outside markets, crude oil was higher as were stock index futures.
Potential Long Term Problems for Wheat
Grains Were Mixed in the Overnight
Stock futures were on the defensive giving up nearly 0.75%
Grains were mixed overnight with wheat adding to Monday’s losses while corn and beans started the day in positive territory. Stock futures were on the defensive giving up nearly 0.75% while crude oil was soft as it continues its slide over the past week.
Our Thoughts on the Current Export Pace